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Dubai Fund ICD May Raise $2bn Loan Target After Heavy Demand

The loan has been marketed since mid-March, with $1.6 billion of the $2 billion target already pledged by the eight arranging banks.

UAE’s Majid Al Futtaim Eyes $1bn Investments

The developer of shopping malls will go on a roadshow to raise money from institutional investors for the purchase of a minority share in Carrefour.

Review: Le Royal Méridien Beach Resort & Spa

The word ‘resort’ is used all too frequently in today’s hospitality scene, but Le Royal Méridien is the perfect example of what the term should stand for; a place you should never have to leave.

Meet The UAE’s Mompreneurs

Mona Tavassoli, founder of MomSouq, tells Alicia Buller why babies are good for business.

Middle East Q1 Car Sales Break Records, Again

Impressive figures from BMW, Audi, Volkswagen and Rolls-Royce indicate the region’s economy is purring along nicely.

Sheikh Mohammed Makes Horse Doping A Criminal Offence

Godolphin trainer Mahmood al-Zarooni was banned for eight years by the British Horseracing Authority after 11 horses tested positive for anabolic steroids in April.

LATEST: Canadians Still Require Visas To Enter UAE

The Canadian visa waiver announced earlier this year has still not come into effect, confirmed embassies.

Kenya Airways Starting Abu Dhabi-Nairobi Flights In July

The service will be operated in conjunction with Etihad following the signing of a reciprocal codeshare agreement in February.

Arabtec’s $650m Rights Issue To Open On June 9

Arabtec had said in March that the fundraising was part of a five-year expansion plan.

Carrefour Sells Stake In Middle East Venture To MAF For $683m

Majid Al Futtaim Hypermarkets operates 50 hypermarkets and 44 supermarkets under the Carrefour name.

Sheikh Mohammed Announces New ‘M-Government’ Project

The new structure for Dubai’s government is to be implemented in two years’ time and will be “the Government of the future”.

New GCC Tobacco Tax Could Lead To Illegal Trade

Ministers in the region are deliberating a 100 per cent increase in duty on tobacco products.

Emirates Expands Colombo Services

Additional three services a week from June 30 will be operated by B777-300ER aircraft.

Abu Dhabi Lender ADCB To Price Subordinated Bond

Early price talk for the 10-year deal, which is not redeemable for five years, was released at 230 basis points over five-year midswaps.

Dubai Contractor Arabtec Says Workers End Strike

Thousands of workers stayed away from work from Saturday to demand higher wages.

Abu Dhabi’s Man City And New York Yankees In New MLS Team

Sheikh Mansour-owned City will be the majority partner in New York City Football Club along with the biggest name in baseball, the Yankees.

Dubai Is World’s Fourth ‘Hottest’ Retail Market

The emirate welcomed 25 new retailers last year, says new study by CBRE.

IMF: Dubai Will Meet Debt Obligations

The International Monetary Fund’s regional report warns unemployment figures and diversifying economies are still an issue.

Dubai’s Drake And Scull Wins $461m Saudi Tower Contract

The twin-tower residential and commercial development will be built in Jeddah’s Corniche area.

Dubai’s Arabtec Says Projects Unaffected By Labour Strike

Thousands of workers have been on strike since Saturday demanding higher pay.

Air Arabia Signs $350m Financing Deal With Gulf Banks

Deal with Qatar National Bank S.A.Q. and Commercial Bank International covers part of a larger order for 44 A320s placed with Airbus in 2007

Gulf Capital To Raise $360m From Islamic Loan

The funds raised will partly be used to buy a new vessel, refinance debt and pay investors dividends.

UAE Announces June 6 Private Sector Holiday

The UAE’s ministry of Labour issued a circular confirming the holiday to mark Isra Wal Miraj.

Abu Dhabi’s IPIC To Use $4bn Pipeline Payment To Repay Debt

The state-owned firm built a crude oil pipeline from Habshan to Fujairah in the UAE.

REVEALED: The Biggest Banks In The UAE

Taken from the Gulf Business Top 50 Banks, these are the biggest banks in the UAE by 2012 total assets.

Burj Al Arab Rolls Out Gold iPads

Opulent devices provide guests with quicker access to services and part of wider technology push

Dubai Labourers Stage Rare Strike For More Pay

Two Arabtec employees said several thousand workers engaged on various projects did not report for duty on Sunday and stayed in their accommodation.

UAE Economic Growth Accelerates To 4.4% In 2012

Good and stable oil prices over the last year were one of the most important factors, according to the National Bureau of Statistics.

Etihad Buys Three AD Airport Service Companies

The trio, covering in-flight catering, ground handling and cargo, now fall under Etihad Airport Services, a wholly owned subsidiary of Etihad

Hertz Gears Up For On Demand Services

Focus is currently on the US and Europe but it will come to the Middle East.